Elgato Turbo.264 HD received

We were big fans of the original Elgato Turbo.264 hardware encoder, so when we heard that the company had released an updated version, called the Turbo.264 HD, we pretty much ordered one immediately. The product promises to “quickly convert any video into a format that you can play anywhere and share with anyone” and supports HD camcorders, AVCHD, and direct upload to YouTube. We are gonna tear into this one, and report back with our thoughts. Meantime, any questions on the device?